TD Securities Cuts Sun Life Financial (NYSE:SLF) Price Target to C$68.00

Sun Life Financial (NYSE:SLFGet Rating) (TSE:SLF) had its price objective reduced by analysts at TD Securities from C$72.00 to C$68.00 in a research report issued on Wednesday, The Fly reports.

A number of other equities analysts also recently commented on SLF. Desjardins decreased their target price on Sun Life Financial from C$77.00 to C$73.00 in a report on Monday, May 16th. Canaccord Genuity Group cut their target price on Sun Life Financial from C$75.50 to C$67.00 in a research note on Sunday, May 15th. Zacks Investment Research reissued a “hold” rating on shares of Sun Life Financial in a research note on Thursday, March 17th. Scotiabank cut their target price on Sun Life Financial from C$71.00 to C$67.00 in a research note on Friday, May 13th. Finally, BMO Capital Markets cut their target price on Sun Life Financial from C$80.00 to C$75.00 in a research note on Friday, May 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $70.38.

Shares of NYSE SLF traded up $0.60 during midday trading on Wednesday, hitting $49.41. 38,530 shares of the company’s stock were exchanged, compared to its average volume of 888,015. Sun Life Financial has a 12-month low of $46.23 and a 12-month high of $58.49. The company has a market cap of $28.96 billion, a price-to-earnings ratio of 9.45, a PEG ratio of 1.15 and a beta of 1.06. The business’s fifty day moving average price is $51.93 and its two-hundred day moving average price is $53.82.

Sun Life Financial (NYSE:SLFGet Rating) (TSE:SLF) last issued its earnings results on Wednesday, May 11th. The financial services provider reported $1.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.11 by $0.03. Sun Life Financial had a return on equity of 13.66% and a net margin of 11.38%. The business had revenue of $300.00 million during the quarter. On average, equities research analysts forecast that Sun Life Financial will post 4.83 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of SLF. Paragon Capital Management Ltd bought a new position in shares of Sun Life Financial in the 4th quarter worth $26,000. Tcwp LLC bought a new position in shares of Sun Life Financial in the 1st quarter worth $27,000. AdvisorNet Financial Inc raised its position in shares of Sun Life Financial by 149.5% in the 1st quarter. AdvisorNet Financial Inc now owns 499 shares of the financial services provider’s stock worth $28,000 after acquiring an additional 299 shares in the last quarter. Mark Sheptoff Financial Planning LLC bought a new position in shares of Sun Life Financial in the 1st quarter worth $30,000. Finally, Achmea Investment Management B.V. bought a new position in shares of Sun Life Financial in the 1st quarter worth $32,000. 47.14% of the stock is owned by institutional investors and hedge funds.

About Sun Life Financial (Get Rating)

Sun Life Financial Inc, a financial services company, provides insurance, wealth, and asset management solutions to individuals and corporate clients worldwide. It offers term and permanent life, as well as personal health, dental, critical illness, long-term care, and disability insurance products. The company also provides reinsurance products; investment counselling and portfolio management services; mutual funds and segregated funds; trust and banking services; real estate property brokerage and appraisal services; and merchant banking services.

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